There was limited spot trade in the Singapore rebar import market this past week due to the slow resumption of downstream construction activity and high inventory levels in the country, market sources told Fastmarkets.
"Many steel fabricators have months of inventories still on hand and are not looking to purchase anything," a buyer source in Singapore told Fastmarkets on Thursday July 9.Turkish and Indian rebar continued to be offered at $430-440 per tonne cfr Singapore on a theoretical weight basis in the past week. But buyers were still on the sidelines due to the slow restart of activity...